NIO (NYSE:NIO) Trading Up 5.9% - Should You Buy?

NIO Inc. (NYSE:NIO - Get Free Report)'s share price rose 5.9% during trading on Monday . The company traded as high as $4.22 and last traded at $4.13. Approximately 43,969,048 shares changed hands during trading, a decline of 17% from the average daily volume of 52,717,030 shares. The stock had previously closed at $3.90.

Analysts Set New Price Targets

NIO has been the subject of a number of research analyst reports. Mizuho lowered their price target on NIO from $4.00 to $3.50 and set a "neutral" rating for the company in a report on Tuesday, June 3rd. Citigroup reissued a "buy" rating on shares of NIO in a report on Monday, April 28th. The Goldman Sachs Group raised NIO from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $3.70 to $3.80 in a report on Tuesday, June 17th. Cfra Research upgraded shares of NIO to a "hold" rating in a report on Friday, March 21st. Finally, Morgan Stanley reiterated a "buy" rating on shares of NIO in a report on Monday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $4.74.

NIO Trading Up 7.0%

The firm has a 50 day moving average price of $3.69 and a two-hundred day moving average price of $4.02. The company has a market cap of $8.71 billion, a price-to-earnings ratio of -2.58 and a beta of 1.55. The company has a quick ratio of 0.69, a current ratio of 0.84 and a debt-to-equity ratio of 1.89.

NIO (NYSE:NIO - Get Free Report) last announced its earnings results on Tuesday, June 3rd. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.23). NIO had a negative net margin of 35.51% and a negative return on equity of 286.45%. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $12.46 billion. During the same quarter in the previous year, the company earned ($2.39) earnings per share. The business's revenue was up 21.5% on a year-over-year basis. As a group, equities analysts forecast that NIO Inc. will post -1.43 earnings per share for the current year.

Hedge Funds Weigh In On NIO

A number of institutional investors and hedge funds have recently modified their holdings of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of NIO by 3,966.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,316,291 shares of the company's stock worth $20,255,000 after buying an additional 5,185,565 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in shares of NIO during the second quarter worth approximately $12,315,000. SG Americas Securities LLC raised its position in shares of NIO by 83.3% during the first quarter. SG Americas Securities LLC now owns 2,109,761 shares of the company's stock worth $8,038,000 after purchasing an additional 958,750 shares during the period. Bridgewater Associates LP raised its position in shares of NIO by 28.6% during the fourth quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company's stock worth $5,170,000 after purchasing an additional 263,338 shares during the period. Finally, Hsbc Holdings PLC raised its position in shares of NIO by 96.6% during the first quarter. Hsbc Holdings PLC now owns 1,039,162 shares of the company's stock worth $3,964,000 after purchasing an additional 510,610 shares during the period. 48.55% of the stock is currently owned by institutional investors.

About NIO

NIO Inc designs, manufactures, and sells electric vehicles in the People's Republic of China. The company is also involved in the manufacture of e-powertrain, battery packs, and components; and racing management, technology development, and sales and after-sales management activities. In addition, it offers power solutions for battery charging needs; and other value-added services.